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Oman: Pressures persist as S&P downgrades debt to junk status

Politics: Oman has been governed since 1970 by Sultan Qaboos Bin Said Al-Said, the 14th ruler of the Al-Busaidi dynasty, founded in 1750. Qaboos, who deposed his father in a palace coup, relies on a variety of allies typically drawn from the merchant elite, rather than his relatively small family. He was briefly married but has no children or heir apparent. Succession (likely to go to Taimur Bin Assad, son of Qaboos’s first cousin Assad Bin Tariq, or his brothers Haitham and Shihab).

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